Acumatica acquired by Vista Equity Partners

Cloud ERP provider Acumatica has been acquired by private equity firm Vista Equity Partners, which specializes in enterprise software, data and technology-enabled businesses. 

“Our partnership with Vista not only marks a significant milestone in Acumatica’s history but also is a strong endorsement of the real-world value we deliver to the market and our customers,” said Acumatica CEO John Case. “Vista’s investment can help power our AI-first product strategy and further strengthen our thriving Community of partners, developers and customers, working together to find better ways to work and redefine business management software for everyone. With Vista’s support and track record of growing software companies, we believe we’re positioned to accelerate product development, deepen partner engagement and extend our impact.”

Vista will acquire Acumatica from EQT, which will no longer be an investor in the company. 

The specific terms of the transaction were not disclosed. Monti Saroya, senior managing director and co-head of Vista’s Flagship Fund, said Acumatica is well positioned to take advantage of recent shifts in modern ERP solutions. 

“Acumatica is an ascendant, cloud-native ERP platform that has become a leading provider of mission-critical tools that enable small and mid-sized businesses to run more efficiently and effectively,” said Saroya. “With its industry-leading, strong partner ecosystem and growing presence in markets embracing cloud-based business technology, we believe Acumatica is well-positioned to lead the shift toward modern, integrated ERP solutions.”

Acumatica has been focusing heavily on AI over the past few years and especially so this year. The company recently rolled out its spring update, which offered enhanced AI features as well as more industry-specific solutions, part of the company’s move away from strictly back-office functions to become a comprehensive business platform. In January, the company announced its AI Studio, as well as new features for its AI Lab, updates that align with Acumatica’s AI-first product strategy, which involves looking at business problems from the ground up and then determining how applied AI can address problem scenarios.

Moelis & Company served as financial advisor to Acumatica on the deal. Simpson Thacher & Bartlett LLP acted as legal counsel to Acumatica, and Greenberg Traurig LLP served as legal counsel to Vista.